October 11th, 2011 |
 The expansion of the EB-5 regional center visa program to approaching 200 regional centers, some of which seem both unproven and speculative, along with aggressive selling techniques entering the equation, has raised some concern. Certainly the range of projects on offer is now varied both in content and quality and there have been some well publicized failures.
It is particularly worrying, when a regional center identifies supposedly positive features that are aimed to appeal to overseas clients who are often thousands of miles away and are not in a place to judge for themselves, the validity of the information provided.
A number of regional centers have highlighted their positive features such as offering “solid investment opportunities” and “looking out for potential investors’ best interests”. However, certain claims may only give the positive half of the story and not the negative half. We have researched many regional center programs and identified a number of anomalies not always bought to the attention of potential EB-5 visa applicants.
A number of regional centers claim that on their program not a single I-526 petition has been denied to date. While this claim may be true it is only half the story. From the EB-5 clients’ perspective, the removal of conditions after two years, (I-829) and the return of their $500,000 capital may be of equal importance, after all failure to achieve the I-829 can lead to possible deportation from the USA for the whole family.
A majority of early year EB-5 visa clients have been successful in obtaining both their I-526 and I-829 approvals and indeed a number have received their full $500,000 back, for the unfortunate few there have been less satisfactory outcomes.
The clients in one Regional Center program did not receive I-829 approvals as the regional center concerned had switched their funds to a different program. Although the decision behind the switch was to protect the clients’ immigration status, USCIS were not satisfied that the switch achieved compliance with their specific requirements and thus did not approve the I-829 petitions.
There have also been a number of program failures at an earlier stage. One California Regional center had its USCIS approval to operate programs withdrawn following an investigation by USCIS; but not before a number of Chinese investors had funded their $500,000 of capital into the program.
At the time of writing another Regional Center is the subject of concern following work stopping on the construction of a factory, again a number of Chinese EB-5 applicants have already committed funds to the program.
There have also been issues where a center promotes its relative safety given that is apparently State run and therefore subject to State controls. However, the programs themselves and the capital from EB-5 participants are in private sector enterprises which could fail and it does not seem likely that the State, in such circumstances, would reimburse capital in the event of failure.
It is absolutely imperative that before deciding upon a regional center program potential EB-5 visa applicants are given detailed positive and negative information from specialists.
For a detailed discussion on the suitability or otherwise of using the EB-5 visa program please take advantage of a free in-depth EB-5 Visa consultation with the principals of Which EB5 who themselves are first generation immigrants to the U.S.A.
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Tags: california, chinese, eb-5, EB-5 Visa, I-526, I-829, regional center, State, USA, uscis
Posted in Immigration | No Comments » |
August 15th, 2011 |
 There are many regional centers competing for your business. Some are truly excellent at the art of selling you a place on their program regardless of the merits of your other options. Certainly there are some excellent programs, but without independent expert advice how are you going to sort the good from the bad?
There are centers that have had refusals (at both the I-526 and I-829 stage), a center that lost its permission from USCIS to operate its program, a center where there may be concerns regarding meeting the required 10 jobs per investor criteria. One suspects that these regional centers may not be highlighting these points to potential investors.
Last year, a regional center in California had its regional center status revoked. The Center was unable to demonstrate that they met the criteria required by The United States Citizenship and Immigration service (USCIS) to raise funds; this was after the center had already received $9.5 million dollars from foreign investors! Have those investors received all their money back? Did they receive independent advice prior to selecting this center? were they warned of the investigations into the center?
Even a visit to a regional center is no guarantee of success. An official regional center tour can often highlight the positives but ignore the negatives. As an example a couple of centers in tourist areas often seem an attractive option to tourists on holiday / vacation in the areas. However, research from independent sources indicate specific reasons for, among other things, low property values in these areas which could severly impact your choice.
Another issue you may wish to consider is the track record of top management/directors in a regional center program. If the heads of a regional center have had adverse criticism or coverage in the past, are they likely to be highlighting this in their sales material?
Other centers may have difficulties in terms of creating the required ten jobs per investor or providing the necessary evidence of being Targeted Employment Areas (TEA).
The EB-5 visa requires a $500,000 investment in a United States Citizenship and Immigration center (USCIS) Regional Center Programs. The track record of these programs varies considerably and investment terms can be as little as four years. It is vital you obtain independent information from experienced advisers prior to making a decision on Regional Center programs.
If you would like more information on these visa options and a free consultation contact Which EB-5
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Tags: california, consultants, EB-5 Visa, eb5, expert advice, I-526, I-829, independent, regional center, TEA, uscis, Which EB-5
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March 21st, 2011 |
 Last week I attended a conference on the EB-5 visa in Las Vegas with several hundred Attorneys from all over the USA. A few days later I was in California for a meeting at the USCIS service center in California where US government officials presented an update on the EB-5 visa and answered questions from the audience who in the main were Immigration Attorneys and officials from the many regional center programs.
These two events were not attended by those of you who are planning to use the EB-5 as their preferred visa to obtain permanent residency in the USA and it would therefore be helpful over the next two days to give you relevant information from these meetings that could help you understand what is happening in the EB-5 world.
It is becoming more and more apparent that those of you who are looking at the EB-5 are finding it difficult to obtain impartial information that can assist you to easily understand the process. For the majority of EB-5 applicants travelling all over the USA to visit over 130 regional centers would not be possible and with a number of immigration attorneys working closely with particular regional centers it may be difficult to obtain totally independent advice.
For impartial and independent information on the EB-5 visa options contact us using the form on the right of this page.
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Tags: attorney, california, california service center, eb-5, immigration attorney, impartial information, las vegas, regional center, USA, visa
Posted in Immigration | No Comments » |
March 18th, 2011 |
 Stephen Parnell of Which EB5 with Senator Patrick Leahy of Vermont during an EB-5 stakeholders meeting in Washington DC. It is with great pleasure that I inform you that yesterday, Sen. Patrick Leahy (D-VT) introduced S. 642 (“Creating American Jobs Through Foreign Capital Act”) – which would permanently authorize the EB-5 RC Program – into the Congressional Record. The Honorable Senator also included a glowing statement about the EB-5 RC Program. A full text can be found below: We will circulate a PDF of the bill as soon as it is available.
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Mr. LEAHY. Mr. President, today I am introducing the Creating American Jobs Through Foreign Capital Investment Act. This bill does one simple thing: It makes the EB-5 regional center program permanent. The EB-5 Regional Center Program has been highly successful since its inception in 1992, but it has always lacked the security of assured continuity. Extending the program by a few years at a time hampers the growth of the program and creates a disincentive for immigrant investors to bring their capital investments to the United States. EB-5 regional center programs have drawn jobs and millions of investment dollars to struggling communities and regions of our country. We can expand these job-creating programs and allow new regional centers to compete for investments with quality projects–if the EB-5 authorization is made permanent in law.
The State of Vermont and Vermont entrepreneurs recognized the potential of this program early on, and Vermont gained regional center status in 1997. Our State and the Vermont entrepreneurs who took advantage of the regional center planned their projects with great care. As a result, both the State and our entrepreneurs have successfully attracted investors and created jobs. Other states have taken note of Vermont’s success, and today there are now about 135 designated regional center programs across the country, which are creating jobs in States like Alabama, Arizona, California, Florida, Iowa, and New York, to name just a few.
A regional center program is an economic engine for the state or region in which it is located. In a small state like Vermont, the economic activity generated by EB-5 projects at resorts like Jay Peak and Sugarbush has created direct jobs in those communities. Some of those jobs are for the construction and expansion phase, and others are for long-term employees of the resorts. These resort expansions bring more tourists to Vermont to enjoy skiing and summertime activities. Then there are the multiplier effects of these projects. Our visitors spend money while skiing and touring Vermont, supporting other Vermont businesses with every purchase they make. The economic activity is not limited to tourism, and there are other innovative projects in the pipeline in Vermont–projects like biotechnology; water purification; and manufacturing. Because the entire State of Vermont is a designated regional center, there is great potential for diversity both in terms of projects and geographic location.
The Regional Center program attracts foreign investors seeking legal permanent residency and a chance to invest in the American economy. Investors must pledge a minimum of $500,000 to a project within a Regional Center, and they independently apply for EB-5 visas. If approved by U.S. Citizenship and Immigration, USCIS, foreign investors are granted conditional 2-year green cards. After 2 years, these investors must provide proof that they have created at least 10 jobs as a result of their investments, and that they have met additional investment requirements set by USCIS.
The Federal Government authorizes approximately 388,000 green cards each year. Out of that number, only 10,000 annually are reserved for the EB-5 program. The vast majority of the green cards issued by our Government are family-based and available to anyone who meets the admissibility criteria, irrespective of personal wealth. It is true that this program requires a significant up-front investment from a prospective immigrant, but that does not disadvantage others who wish to become permanent residents. Most importantly, that investment directly benefits American communities and workers at no cost to American taxpayers. Similar programs have long yielded extraordinary economic benefits for the people of Canada, Australia and other countries.
There is virtually no substantive opposition to the EB-5 program. Most elected officials will agree that creating jobs and capital investment is a good, bipartisan goal.
The bill I introduce today makes the program permanent, but I am also working on a broader package of improvements to the EB-5 program to modernize it and ensure it operates efficiently, and as Congress intended. We must make sure that the immigration agency has the tools it needs to keep the program free from fraud and abuse. We must offer stakeholders an efficient process with fair standards so that they have confidence in the program. I am developing legislation in consultation with stakeholders and agency officials to make changes that will bring about lasting improvements for everyone involved.
The EB-5 regional center program is one small corner of our overall immigration system–and it is one that generates tangible, ongoing economic benefits for Americans in the form of jobs and capital investment in local communities. It is an American success story, and we can build on its success with a continuing charter, with careful cultivation, and with appropriate oversight.
Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.
There being no objection, the text of the bill was ordered to be printed in the Record, as follows:
S. 642
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Creating American Jobs Through Foreign Capital Investment Act”.
SEC. 2. PERMANENT REAUTHORIZATION OF EB-5 REGIONAL CENTER PROGRAM.
Section 610 of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 1993 (8 U.S.C. 1153 note) is amended–
(1) by striking “pilot” each place such term appears; and
(2) in subsection (b), by striking “until September 30, 2012”.
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Tags: Alabama, and New York, arizona, Australia, california, Canada, Creating American Jobs Through Foreign Capital Act, eb-5, florida, green card, Immigration, Iowa, jay peak, permanent, permanently authorize the EB-5 RC Program, regional center, Sen. Patrick S. Leahy D-Vt., Sugarbush, vermont
Posted in Immigration | No Comments » |
March 14th, 2011 |
 I am in Las Vegas for the 2011 EB-5 Investors and Regional Centers Conference. This conference provides an excellent opportunity to find out the latest information from a number of the regional center programs, meet up with many of the leading people involved with the EB-5 program as well as the chance to visit a number of the programs in Nevada, California and Texas.
Over the next few days I will provide updates on the latest information coming from the Conference and the programs being visited.
If you are about to commit to an EB-5 program and would like to discuss my findings from the Conference and regional center visits please contact Chase Brodsky on +1-559-EB5-INFO or info@whicheb5.com and we will arrange to set up a telephone briefing with you.
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Tags: california, eb-5, las vegas, nevada, regional center, texas, update
Posted in Immigration | No Comments » |
November 4th, 2010 |
 Increasing numbers of overseas visitors love to spend part of the year in the sunny all year round states of Florida, California and Arizona. However, although you may qualify for a six month visa, those wanting to retire and relocate permanently to the U.S. have often found it impossible as there used to be no specific visa that allows retirees to live in the USA year round even if they are wealthy and self supporting.
There has been talk for many years of a silver visa but nothing ever materialized. Unless retirees have a close American relative or buy a business, permanent retirement to the States has always seemed an impossible dream.
Not so anymore as more and more potential retiree’s consider the EB-5 visa regional centre pilot program. This visa category has been a blessing to retirees wishing to permanently retire to the States as it does not require them to directly operate a business.
In return for a $500,000 investment in a U.S. Government approved regional center program many people each year (up to 10,000 every year) can achieve their lifelong dreams of permanent residence in the USA. For more information contact us using the form on this page or via email at info@whicheb5.com
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Tags: arizona, california, eb-5, florida, pilot program, regional center, retirement, silver visa, USA, visa
Posted in Immigration | No Comments » |
October 20th, 2010 |
 Increasing numbers of overseas visitors would love to relocate to the sunny all year round states of Florida, California and Arizona. However, although they may qualify for a six month visa – for those wanting to retire and relocate permanently, there is no specific visa that allows overseas retirees to live year round in the USA, even if they are wealthy and self supporting.
Although there has been ongoing talk for years of a silver visa, nothing has ever materialized and indeed nothing looks likely to. Therefore, unless these retirees have a close American relative, permanent retirement to the States has seemed a never to be fulfilled dream.
The EB-5 visa regional center pilot program has been a blessing to many retirees wishing to permanently retire to the States. In return for a $500,000 investment in an approved program (that may be in the region of a five or six year commitment) many have achieved their lifelong dreams.
Contact us for information on retiring to the USA using the EB-5 investor visa.
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Tags: arizona, california, eb-5, florida, investment, investor, retire, silver visa, USA, visa
Posted in Immigration | No Comments » |
July 30th, 2010 |
 The family had spent some considerable time investigating options for immigration to different countries with their short list comprising Australia, Canada and the United States. They had concerns regarding the climate being too cold for much of the year in Canada and felt Australia was less central for their business requirements than the USA, deciding that California was the best match for their needs. Once they had determined that California most suited them they had spoken to an Attorney regarding visa options and she had put them in touch with WhichEB5 to take them through the various regional center programs. The family was particularly concerned that once they received the visa there should be no problems at the two year stage (the removal of conditions) so were very insistent that the center should have a proven and straightforward record of job creation. They also did not want a project that could have difficulty obtaining subscribers, in case it did not reach a critical mass and then failed to go ahead. Finally exit strategy and the return of their funds was an important consideration. These specific requirements considerably narrowed down the range of options and after discussing these with them over a number of internet phone conversations, a meeting was held at our office and subsequently they visited three regional centers. Their final decision was based on these visits with the chosen center particularly impressing them, as they felt as an ongoing program it was well proven and minimized as far as possible risk factors. The family has now successfully relocated to California. We have continued to keep in touch and checked out issues that have cropped up with him for the benefit of new investors.
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Tags: attorney, california, Canada, eb5, exit strategy, Immigration, job creation, regional center, removal of conditions, USA, visa, Which EB-5
Posted in Immigration | No Comments » |
July 29th, 2010 |
 The gentleman and his wife had relocated to the USA from Pakistan nine years ago. Initially he came over as a student on an F1 visa and after graduation worked for a major financial sector company in New York. After working for six years on an H1-B visa, he faced a problem with the uncertainty and waiting time required for labor certification cases and adjustment of status. All this despite both his desire to remain in his job and his employers willingness to help him, could have meant he would have to leave his home in the USA and return to Pakistan. After a meeting with Stephen Parnell in New York, and discussions with an experienced EB-5 attorney, he looked at the EB-5 regional center pilot program in more detail and specified project track record, speed of obtaining the green card and investment with a company that offered a specific exit strategy as important criteria for him. He decided to invest $500,000 in a limited partnership project in an approved and proven regional center program for the development of a project in California. Approval took a little less than three months and the applicant received his green card a month later.
Read more EB-5 Success Stories here
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Tags: adjustment of status, attorney, california, eb5, F1 visa, green card, H-1B, labor certification, New York, Pakistan, pilot program, regional center, stephen parnell, USA
Posted in Immigration | No Comments » |
July 26th, 2010 |
 Esta familia de cinco miembros (padre, madre y tres hijos) residía en California con una visa E2 que vencía al cabo de un año. Estaban interesados en la visa EB-5 como la mejor ruta para obtener el derecho a residencia permanente. La familia ya dirigía una próspera empresa multinacional y deseaba hacer de California su residencia permanente. Los niños estaban perfectamente integrados en el sistema educativo y temían que la visa E2 no les proporcionase la seguridad de hacer de EE.UU. su hogar a largo plazo. Tras considerar las diferentes opciones, la familia expresó su preferencia por el programa del centro regional con sede en California. Optaron por un programa acreditado que ya había resultado atractivo a inmigrantes de diferentes naciones (algunos programas suelen atraer principalmente a inversores chinos, lo cual puede tener implicaciones importantes que es necesario considerar). La familia utilizaba los servicios de un abogado de experiencia demostrada, y recibieron la aprobación al cabo de tres meses. Hemos seguido en contacto y revisado los problemas con los que se fueron encontrando posteriormente, para que futuros inversores se puedan beneficiar de su experiencia. — This family of five, father mother and three children were living in California on an E2 visa that was due to expire the following year. They were interested in the EB-5 visa as the best route to gain them permanent residency status. The family already operated a successful multinational business and wanted to make California their permanent home. The children were doing well in the school system and they were concerned that the E2 visa did not provide them with the ongoing long term security to make their home in the USA. After considering the various options the family expressed a preference for a regional center program based in California. They opted for a proven program that had proved attractive to immigrants from a wide variety of nations (Some programs tend to attract mainly Chinese investors which can have some important implications; you need to be aware of).The family used a proven and experienced Attorney and received approvals within three months. We have continued to keep in touch and checked out issues that have cropped up with them for the benefit of new investors.
Read more EB-5 Success Stories here
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Tags: california, E2, eb-5, permanent residence, regional center, USA, visa
Posted in Immigration | No Comments » |
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